LONDON--(BUSINESS WIRE)--Oct 11, 2018--Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest article on different challenges in customer database management.
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Different Challenges in Customer Database Management (Graphic: Business Wire)
Digital technology innovations have enabled businesses to keep a track of customers’ behavior and their interests. Today, companies need to satisfy the needs of multiple market segments, but for that, they should know more about their customers and their needs and demands. ERP systems, big data technologies, AI, and cloud technology have allowed companies to store customer data and make an accurate analysis of their customers. Such analysis helps the company to manage the customer relationship efficiently by increasing the customer lifetime value. Managing customer database is a tough task. So, what are the challenges that businesses in customer database management face?
“Businesses have to process large volumes of data in order to make critical datasets available to stakeholders in the time of need,” says an industry expert from Quantzig.
Challenges in customer database management:Volume of data
Today, the volume of data is growing at an exponential rate. Businesses need to process large volumes of data to make critical datasets available to stakeholders in the time of need. Such data needs to be made available to multiple stakeholders across various platforms and devices and this increases the storage and processing costs. Such a large volume of customer database needs to be managed with state of the art ERP systems and software. To gain detailed insights into our engagement models and analytics dashboards,Data collection and storage
Today, the business environment is getting highly competitive and customer satisfaction seems to be on the top of the priority list for most companies. Frequent changes in customer behavior makes it difficult for decision makers to decide on what’s best for the customers. The rise of online shopping has increased the amount of customer data enormously and businesses are having a hard time managing such vast amounts of data. Additionally, they are also struggling to decide whether to take into account cohort view or single customer view while analyzing.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information, visit:
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT
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PUB: 10/11/2018 09:31 AM/DISC: 10/11/2018 09:31 AM